WHAT HAPPENS IF THE PERSONAL REPRESENTATIVE FAILS TO PERFORM HIS OR HER DUTY?
An executor or administrator who is derelict in his or her duty is personally liable for damages caused in the administration of the estate.
Liability may arise from improperly managing the assets of the estate, failing to collect claims and moneys due the estate, overpaying claimants, selling an asset without the authority to do so, or at an inappropriate price, neglecting to file tax returns on time, distributing property to the wrong beneficiaries, etc.
This means that the Personal Representative might wind up paying for the loss out of his or her own pocket.
Have you inherited a property for which you are needing to sell, or at least get an appraisal? Learn the secrets to getting top dollar for your inherited property in the Houston area by ordering our free report to learn your options. Or contact us to set an appointment today. Our very own Caroline Allison, Harris County's and Fort Bend County’s top probate agent, will contact you to discuss your options.
Liability may arise from improperly managing the assets of the estate, failing to collect claims and moneys due the estate, overpaying claimants, selling an asset without the authority to do so, or at an inappropriate price, neglecting to file tax returns on time, distributing property to the wrong beneficiaries, etc.
This means that the Personal Representative might wind up paying for the loss out of his or her own pocket.
Have you inherited a property for which you are needing to sell, or at least get an appraisal? Learn the secrets to getting top dollar for your inherited property in the Houston area by ordering our free report to learn your options. Or contact us to set an appointment today. Our very own Caroline Allison, Harris County's and Fort Bend County’s top probate agent, will contact you to discuss your options.
